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Amazon CEO Andy Jassy has released his annual letter to shareholders, presenting a more optimistic outlook compared to the previous year. The letter addresses the challenges faced, including layoffs and restructuring in distribution centers, while highlighting that Amazon's stock is trading near all-time highs, indicating a turnaround. A key focus of the letter is on advancements in artificial intelligence (A.I.), with Jassy noting that much of the world is built on Amazon Web Services (AWS) and emphasizing the potential of generative A.I. He suggests this technology could represent the largest transformation since the advent of cloud computing, amidst competition from Microsoft and Google in the A.I. space.
